Our guide to marketing your business

A number of companies carry out a rolling programme of market research (and/or compile published information from various sources) and publish the results as market or industry reports. Below are some of the better-known market research companies that offer a wide range of published market reports.

Mintel

A leading supplier of media, product and consumer intelligence, Mintel publishes over 500 reports a year, providing expert analysis on both European and US markets.

Central to its brand is the Mintel Market Report. Each one contains market size and trends data, forecasts, information about participating companies and detailed consumer research. It also produces Special Reports, which examine the UK as a whole, our lifestyles, attitudes, hopes and fears.

In 2001, Mintel branched out into European reports by acquiring the Corporate Intelligence Group (CIG). The brands Retail Intelligence and Travel & Tourism Intelligence have been retained and European Consumer Report have since been added to the range.

Product research is provided via its Global New Products Database, which details worldwide product innovation in consumer packaged goods markets. Featuring pictures, ingredients, details and descriptions of all key new products, the database provides users with daily updates and an e-mail alert service.

Key Note (ICC)

Key Note reports cover a wide range of information on individual market sectors, for example lingerie, house building, the chemicals industry. It has over 350 current titles, with approximately 18 new or updated titles produced per month.

Reports are presented in a standard format: industry structure, market size and trends, recent developments, future prospects, and further sources of information.

Market Reports Plus provide additional information on particularly diverse or dynamic sectors, for example snack foods, public houses. Market Reviews provide a broader perspective where related industries are brought together under one title, for example UK DIY and home improvements.

There is also a range of special and European titles; for example, Vegetarian Foods, Telecoms in Europe. Reports are available online. Free executive summaries and contents pages can be viewed and downloaded online.

Euromonitor

Euromonitor is a major independent publisher of market analysis reports, as well as online databases, directories, books and journals. Euromonitor's research covers more than 300 markets worldwide in the consumer, industrial and service sectors.

It publishes around 400 market reports. The contents pages and sample pages of reports can be viewed online. Only data that is downloaded is paid for.

Tailor-made reports are also available so that individuals can select the information they would like to receive.

MSI Marketing Research for Industry

MSI produces reports on specialist industrial and business-to-business markets. Major subjects include: building and construction, healthcare, environmental services, distribution, transport and infrastructure. MSI has 300 current reports. Popular titles are rewritten on an annual basis, while others are updated every 18 months to two years.

Each report typically follows the same format: a section on the economy, detailed information on the specific market segment, and market forecasts.

MSI reports are currently available in hard copy or via e-mail in pdf format.

Hard copies obtained directly from the publisher

Publishers will send out a catalogue or list of their reports, usually free of charge, on request. Up-to-date reports can be very expensive to buy, but there are often discounts for older reports or for particular organisations.

Downloading reports from the internet

The standard method of obtaining market reports nowadays is to access and download them via the internet. Payment is usually made immediately by credit or debit card.

Visiting your local library

Reports are often kept by local reference or university libraries.

Directories and indices such as Marketsearch, Marketing Surveys Index, Reports Index and Findex can be used to identify appropriate reports. These publications are often overly complicated, so it might be easier to identify a report from a publisher's list and then place a request at the library.

Government sources

In the UK the Office for National Statistics (ONS) provides a wide range of statistical information covering economic and social trends. A lot of information is now available free on the ONS website. The website is divided into themes and the 'Commerce, energy and industry' and 'Economy' themes provide general information relevant to business. Other themes are more sector specific, for example 'Agriculture, fishing and forestry' and 'Transport, travel and tourism'. For information that is not available in this way, your local library is likely to provide a wide range in hard copy format.

Local authorities

Local authorities vary in their production of statistical information and you should contact your local authority to find out what is available. Local authority annual reports, for instance, may contain information on the population, (for example living standards, housing), the economy (employment, tourism) and the region as a whole (transport and telecommunications).

Online and electronic statistical sources

The range of statistics available online is constantly expanding. Many electronic sources use some of the official data that has been mentioned above. While increased availability of online sources makes the information more accessible and easily manipulated, there are still problems. Online and electronic sources, particularly online databases, are mainly used by the corporate sector - large financial/management institutions, economists and market researchers. They tend to be fairly expensive and uneconomical for the small business, which usually only wants information related to a narrow area. However, some examples of useful online sources include:

• NOMIS - online government statistics covering demographics, employment, geographic information, etc., which may be unpublished elsewhere. Accessed through the NOMIS website.
• Organisation for Economic Co-operation and Development (OECD) - the OECD website provides a huge range of free statistics related to international economic indicators. Coverage includes agriculture, food, science and technology. Go to www.oecd.org for further information.

Statistics

Some online businesses, trade associations and official government sites provide free industry statistics and trends that can be accessed by the general public, for example the ONS website

News

There are a host of online newspapers and news sites providing the latest business information. Many have archives that can also be searched and accessed free of charge such as the BBC, the Financial Times and the Telegraph newspapers.

Company Information

Some websites provide databases of annual company reports that can be searched for free, for example CAROL Company Annual Reports Online and Hoovers.

Directories

A number of useful directories are available online covering a wide range of information from company data to suppliers' databases. Some of the bigger company directories such as Kompass and Dun and Bradstreet's Who Owns Whom charge for use.

Information on competitors is available from a wide range of sources:

1. Trade press
2. Trade fairs
3. Trade associations
4. Customers
5. Distributors
6. Suppliers
7. Market reports
8. Government publications
9. Market research companies
10. Business advisers (accountants, bankers, etc.)
11. Local and national press
12. Annual company reports
13. Libraries
14. Directories
15. Competitors' websites

You’ll need to ask yourself a few fundamental questions before embarking on a website:

• Does my business really need a website?
• What do I want it to achieve for my business?
• Do my customers use the internet? If not, will they?
• How do the costs compare to other marketing activities such as brochures and emails?

A small firm that invests in a website could secure the same digital exposure as a multinational company. There are few restrictions on the internet; therefore, a business can expand its customer base on both a national and international level.

Websites are the ideal medium for building up online communities and generating feedback from customers. Because of their online nature, they can easily be updated and improved, unlike a paper catalogue or brochure. A website will also allow a business to improve its customer service, giving customers an almost instantaneous means of communicating with the business.

Choosing to develop a company website in-house is a big commitment. Considerations before committing yourself to this include:

• Staff - do you have adequately trained staff with the technical knowledge and design flair to set up a website?
• Technology - have you budgeted for the computer hardware and software that will be required to build and maintain your website?
• Maintenance - have you considered the ongoing costs of keeping your website up to date? This will include a member of staff required to deal with user enquiries and feedback, upload new information and remove old material, deal with any technical difficulties and check that hyperlinks work correctly.

• Review their portfolio. A professional web designer should have their own portfolio of work, showcasing previous projects.
• Review online work. Can the designer provide examples of online work in addition to work from their portfolio?
• Check references. It is worth speaking to former clients to obtain feedback about their work.
• Review their training and qualifications. A professional designer should have, at a very basic level, knowledge of HTML and JavaScript languages.
• Do you want a database driven site? If so, can the web designer work on the technical requirements as well as the design functionality? Do they have experience of this?
• Check their knowledge. Do they ask questions about you and your business? Do they seem interested in your business?
• Check their understanding. Do they understand the environment in which your business operates? This may include a limit on resources, the audience focus and unique selling points of your business. Do they know who your competitors are?
• Check their interpersonal skills. Is communication an issue? Can they get their message across to you without getting bogged down in technical jargon? Will other members of staff be able to communicate with them easily?
• Check copyright ownership. Will they turn over all ownership of graphics to you once the project is finished?

Design costs

• This will include the creation of the overall look and feel of the website image, with background and navigational buttons. Additional parameters may cost extra to develop depending on what you require.
• Costs can be per hour, per page or an overall project cost depending on the preferences of the client

Hosting costs

• Web hosting services may include a set up and monthly fee.

Maintenance costs

• A monthly fee may be charged for the updating and maintenance of the website.
• Decide on your budget and ask several designers for quotations. This will give you a clear idea of what can be achieved within your financial constraints.

1. Think about the purpose of your website. This will help you to focus on the design and marketing of the site.
2. Very few businesses have the technological skills required to become a virtual business overnight. It’s therefore essential to seek expert advice, at least in the early stages of the project.
3. It’s essential to ensure that the site does not infringe copyright laws by using graphics, photos or text that belongs to other people, without their permission
4. It’s worth remembering that some browser software may display the site layout differently and that some of the site visitors will have browsers that don’t show graphics. It’s possible to check the layout of the design by accessing popular browsers such as Google Chrome or Safari. 
5. Test the website. Before going live, try navigating through the website and printing pages from it. Also check download times and make sure all hyperlinks work correctly.
6. Maintain the website. Ideally, you should appoint someone who is responsible for maintaining the website. Maintenance will include uploading new content, checking for broken hyperlinks, processing user feedback and dealing with any technical issues.

Most businesses want to attract the attention of prospective customers and inform them about the products or services they offer. Advertising is a popular way of attracting attention and passing on information, so the effective use of promotional material is very important. A wide range of materials is used for promotion, but leaflets and brochures are among the most commonly used.

Brochures are usually longer and glossier than leaflets and are useful when a potential customer wants more detailed, often technical, information. A well-produced brochure can also help to reassure a customer that they have made the right decision in buying from the firm (particularly important for high value contracts). Boosting customer satisfaction can lead to referrals.

Should you decide to get your brochures designed and printed professionally, there are a number of issues you will need to consider before deciding upon a company to work with.

• Location. You may need to visit the printers regularly to discuss your plans or view artwork for approval. A print company located near to your business offices will be easier to work with than a firm located miles away.
• Some print companies may keep examples of work they have done for clients in the past. If you ask, they should be happy to show you these.
• Check whether a company is a member of a trade association such as the British Printing Industries Federation.
• Obtain quotes from a shortlist of print firms. You can then compare prices and contact the ones you are most interested in pursuing. When comparing quotes, it is important to check that the suppliers are offering the right level of service and that incidentals (delivery and packing charges, correction charges, charges for changes to schedules and cost of additional proofs) are also taken into consideration. An initial agreement should be reached as to what constitutes incidentals.

• The majority of money will be spent on set up costs, so that a large print run will often be more cost effective than a short one.
• Other costs will be based upon the quality and quantity of the materials you require. High quality paper will cost more than lower grade material. Similarly, the number of colours you choose to use in your design will also impact upon the price. The more colours you require the greater the cost.
• Enquire about costing for repeat orders. If the brochures will be required repeatedly, then you may be eligible for a discount.
• The cost of finishing should be taken into account. Costs will vary depending on the type of finish you require (for example, gloss is usually more expensive than matt).
• If the company collates, packs and delivers your brochures, this may incur an extra charge. Always check before you agree to anything exactly what services you can expect for the agreed price.

In order to ensure that your specific printing requirements are met, it is a good idea to create a brief.

• The brief should describe exactly what is required in terms that are easily understood by both the customer and supplier.
• The printing job must be specified exactly, with details regarding deadlines, quality, quantity, paper type and weight, colours, packaging, delivery and so on.
• It is especially important to consider who will read the brief, how the brief will be distributed, the end result required and the budget available.
• Every time a brief is written, it will be necessary to reconsider the price and level of quality and service required.

Time spent creating the brief is well spent, as printing errors can be costly.

1. Promotional materials should always be designed with the target audience in mind. Literature will not be read if it does not appeal to the reader.
2. Everything must be proofread. Several people should check the drafts. It is vital to make sure that all corrections are made (and no other errors have crept in) before approving the final version for printing. Somebody must also check headings, formatting and layout for consistency. It is important to check that nothing has been left out, especially details of how to contact the business.
3. It is a good idea to look at other business's brochures. What is the target audience in each case? If there are magazines aimed at the same target audience as the business, what elements of design do they use?
4. If the business publishes something containing someone else's artwork, for example a quote from a book, it may be in breach of copyright if permission has not been obtained. The use of computer 'clip art' is usually permitted by the licence that comes with the software but this should be checked.
5. It is important to think carefully about the number of copies to be printed. The business does not want to be left with thousands of useless brochures, if, for example, the products or services change.
6. To gain maximum impact from brochures it is worth seeking professional advice on design.
7. Producing folders could be considered as an alternative to brochures. They can hold a combination of leaflets, information sheets, covering letters and so on. They are cheaper to produce than brochures, and more flexible as the contents can be made up to suit the recipient. Another advantage is that if information, such as a location map, contact name or price list, goes out of date, only the relevant insert needs to be updated and replaced.